Tuesday, December 31, 2019
Polyprotic Acids
There are many different types of acids. This is an introduction to polyprotic acids, with an example of the ionization steps of a polyprotic acid. What Is a Polyprotic Acid? Ka1 Ka2 Ka3 Example of a Polyprotic Acid 3 4 H3PO4(aq) ââ¡â H(aq) H2PO4-(aq)Ka1 [H][H2PO4-]/[H3PO4] 7.5 x 10-3H2PO4-(aq) ââ¡â H(aq) HPO42-(aq)Ka2 [H][HPO42-]/[H2PO4-] 6.2 x 10-8HPO42-(aq) ââ¡â H(aq) PO43-(aq)Ka3 [H][PO43-]/[HPO42-] 4.8 x 10-13 Learn More Polyprotic Acid and Strong Base Titration Curve Titration Basics Introduction to Acids and Bases
Monday, December 23, 2019
Desdemona in William Shakespeares Othello Essay - 858 Words
Desdemona in William Shakespeares Othello In Act One, Scene Three when we first hear of Desdemona through her father Brabantio, the image of a small, shy and innocent young girl comes to mind. When Brabantio tells the Duke of his daughter he calls her ââ¬ËA maiden never bold; / of spirit so still and quietââ¬â¢ and the only reason she married Othello is because ââ¬Ëshe feared to look onââ¬â¢ him. Brabantio seems sure that this is the daughter he knows so well and he believes that she must have been ââ¬Ëwrought uponââ¬â¢ as he does not think it is possible that she would disobey him and marry behind his back. We see Desdemona as an innocent victim through Brabantioââ¬â¢s eyes, however the Desdemona that presentsâ⬠¦show more contentâ⬠¦Desdemona claims she cannot stay put as ââ¬Ëa moth of peaceââ¬â¢, the marriage has not yet been consummated and she does not want to be hidden away from the man that she loves. This strong sense of will Desdemona shows in Act One contrasts to her actions furth er on in the play. At this point her strong will and love she holds for Othelloââ¬â¢s also shows how she completely commits herself to him, her ââ¬Ëheartââ¬â¢s subduedââ¬â¢ to Othello. It could be argued that this results in her becoming the ââ¬Ëinnocent victimââ¬â¢ as she stops standing up for herself and instead stands up for Othello. Desdemona refuses to blame Othello for her unhappiness in Act Four, instead she declares that it is her ââ¬Ëwretched fortuneââ¬â¢. In Act Two, Scene One, Desdemonaââ¬â¢s strong will is further enforced, as she is able to confront Iagoââ¬â¢s comments, which his wife Emilia would rather just set aside. Where Emilia says to Iago, ââ¬ËYou shall not write my praise,ââ¬â¢ Desdemona says to Iago, ââ¬ËWhat wouldst thou write of me, it thou should praise me?ââ¬â¢ This clearly displays how Desdemona is not afraid to speak her mind. She does not shy away from others and she comes across as a strong and confident woman. When Desdemona tries to reconcile the relationship between Othello and Cassio, she is simply doing it for Othelloââ¬â¢s bestShow MoreRelatedWilliam Shakespeares Presentation of Iago, Othello, and Desdemona in Othello834 Words à |à 4 PagesWilliam Shakespeares Presentation of Iago, Othello, and Desdemona in Othello From the very beginning of the play ââ¬ËOthelloââ¬â¢ Shakespeare presents the friendship between Iago and Othello as a lie. Shakespeare makes us see that Iago is only pretending to serve Othello for his own ends and following this on, Othello completely trusts Iago and is able to speak in confidence with him. All the way through the play, Shakespeare shapes the audiences response to make us want to likeRead More Othello, The Moor of Venice Essay examples1319 Words à |à 6 PagesOthello, the Moor of Venice is one of the major tragedies written by William Shakespeare that follows the main character, Othello through his trials and tribulations. Othello, the Moor of Venice is similar to William Shakespeareââ¬â¢s other tragedies and follows a set of specific rules of drama. The requirements include, following the definition of a tragedy, definition of tragic hero, containing a reversal of fortune, and a descent from happiness. William Shakespeare fulfills Aristotleââ¬â¢s requirementsRead MoreTheme Of Monstrous Jealousy In William Shakespeares Othello1271 Words à |à 6 PagesWilliam Shakespeareââ¬â¢s ââ¬Å"Othelloâ⬠, illustrates four of themes in the play. One of the themes is extreme jealousy can make a person act like a monster. In the play, Shakespeare uses Othello, Roderigo, and Iago to prove the theme of Mon strous Jealousy by Othello slapping Desdemona in front of the Public of Venusians calling her cruel names and Developing evil schemes to kill Desdemona at night. Iago tells the lie to Othello about Cassio and Desdemona to and convincing Othello to believe in it. RoderigoRead MoreWilliam Shakespeare And Domestic Violence .During High1006 Words à |à 5 PagesWilliam Shakespeare and Domestic Violence During high school, students will tend to read multiple plays written by William Shakespeare in school. In fact, part of the English Language Arts (ELA) Standards set by Common Core included William Shakespeareââ¬â¢s plays. For ninth and tenth grade students, standard CCSS.ELA-Literacy.RL.9-10.9 expected them to be able to examine how an author draws on and transforms source materials in a specific work (Common Core State Standards, 2017). The examplesRead MoreOthello - Female Stereotypes Essay1108 Words à |à 5 Pages6th, 2012 Othello Essay In ââ¬Å"Othello,â⬠William Shakespeare extensively explores female stereotypes that occur during the playwrightââ¬â¢s time. Throughout the Shakespearian era, women were seen as the inferior sex, over whom men had complete control and thus forcing women to act submissively and obediently in front of their husbands. Men believed that women were objects who just cooked meals, cleaned the house, and bore children while society just accepted these degrading roles. William ShakespeareRead MoreBetraying and Lying in Othello by William Shakespeare1726 Words à |à 7 Pagesthe root of all evil today. People have made it an everyday thing to lie and betray people just because they like to see people broken in misery. People also lie and betray people because of jealousy they may have towards them. The tragedy of Othello explains why some people are not trustworthy. Just because some people feel like they are miserable, they try everything in their power to make the other indi vidual miserable as well. Enemies come in different colors, shapes, and forms, making itRead MoreOthello: Good vs Evil1525 Words à |à 7 PagesGood Or Evil: A Critical Analysis of Othelloââ¬â¢s Main Characters William Shakespeareââ¬â¢s Othello is a classic depiction of a struggle between good and evil. In the play,, the characters are faced with the choice to either conquer or succumb to the overpowering force of evil. Shakespeare places his characters on a sort of spectrum in which a characterââ¬â¢s amount of god or evil can be represented by a shade of color: black representing pure evil, white representing absolute goodness, and a shade of greyRead More The Use Of Animal Imagery In Othello Essay1040 Words à |à 5 Pages In William Shakespeareââ¬â¢s play ââ¬Å"Othelloâ⬠the use of animal imagery was evident throughout the telling of the story. Shakespeare explained several characters actions by comparing them to similarities in animals. The characters in ââ¬Å"Othelloâ⬠were often depicted as having animal-like characteristics. Some characters were even compared to animals by other characters in the play. By defining characters in terms of these characteristics one can get a clear description of what the character isRead MoreTragic Hero in Othelo by William Shakespeare996 Words à |à 4 PagesConventions of Othello Shakespeare has been a part of the American Society for many years. Compared to other Authors, he has a different style of writing but within his own writings, they are all very much alike. He has written many plays including Othello and Romeo and Juliet. Shakespeare was a man who wrote plays that followed the same literary conventions. These conventions included tragic hero, fallacy, irony, and also suspense. A tragic hero is a male figure who is high in society and one whoRead More Comparison of an Evil mastermind in Shakespeareââ¬â¢s Othello and MacDonaldââ¬â¢s Goodnight Desdemona (Good Morning Juliet)1433 Words à |à 6 Pagesfirst introduced in Shakespeareââ¬â¢s Othello. His deceiving personality and complex nature is painted such that readers are amazed by his ingenious schemes. At the beginning of Shakespeareââ¬â¢s Othello, Iago is represented as trustworthy and honest, but readers soon realize that he is the opposite of what he seems. Even though Iagoââ¬â¢s personality and thoughts are revealed less in MacDonaldââ¬â¢s Goodnight Desdemona (Good Morning Juliet), he carries on the same immoral legacy as in Othello. Throughout the plays
Sunday, December 15, 2019
Nationalism in the 19th century Free Essays
Nationalism is a term used to identify two phenomena. First, it describes the attitude of individuals towards their nation which result to the rise of national identity. Second, it pertains to the action that members of a certain nation take in order to achieve the sustainability of self determination (Miscevic). We will write a custom essay sample on Nationalism in the 19th century or any similar topic only for you Order Now During the era of industrialization and urbanization in Western societies, nationalism emerged as one of the most successful political forces. Nationalism became the foundation with which western societies were organized. Between the years of 1850 and 1914, the establishment of nation-states gained the support of all social classes. Hence, the equilibrium in the international political power arises. The masses were diverted towards governance that does not adhere to the class war socialist doctrine. In France, Napoleon III spearheaded the successful campaign for nationalism. During his mild dictatorship for nearly 20 years (1852 to 1870), Napoleon promoted the idea that national states and the programs provided by the government could appeal to all social classes such as the rich, the poor, the conservative, and the radical. Consequently, Napoleonââ¬â¢s political initiative became a landscape where national states became an avenue for the rapid changes in politics and economy (Lloyd). In 1860, Count Cavour, the nationalist leader of Sardinia unified majority of the areas in Italy. His initiative to promote nationalism resulted in Italyââ¬â¢s emergence as a single political state without the use of drastic actions in addressing economic and social matters. Two years after, Prussia hailed Otto von Bismarck as the countryââ¬â¢s chief minister. Under his leadership, the states of Germany were unified into a single political state under the Prussian governance. This was only made possible after Bismarck fought three wars. The unification of the states of Germany strengthened the pride of nationalism. Likewise, the country attained an anti-liberal and conservative force (Lloyd). In order to attain national identity, the United States competed for national aspirations which eventually led to the civil war. A slave-based cotton industry in the south expanded rapidly right after new lands were utilized for industrialization. Thus, the south was able to generate much demand from cotton production. Due to this, a conflict emerged between the people from the south and the northââ¬â¢s urban culture and family farm agriculture. The triumph of north against the south marked the end of slavery. However, land reforms and racial discrimination were not totally addressed (Lloyd). Nationalism also played an important role in the lives of Russian. Right after the Crimean War, major reforms were put forward. In 1861, the freedom of the serfs was attained. Likewise, the government spearheaded the development of modern industries and railroads (Lloyd). As nationalism continued to grow, most of the politicians and national governments responded accordingly in order to strengthen and meet the demands of the people. Because of nationalism, most of the Western societies managed to promote reforms that appeal to all social classes. Works Cited Lloyd, Jim. ââ¬Å"19th century nationalism.â⬠Fresno Unified School District. 2008. 28 Octoberà à à à à à à à à à à à à à à à à à à à à 2008 http://www.fresno.k12.ca.us/schools/s090/lloyd/nationalism.htm. Miscevic, Nenad. ââ¬Å"Nationalism.â⬠Stanford Encyclopedia of Philosophy. 24 September 2005. 28 October 2008 http://stanford.library.usyd.edu.au/entries/nationalism/#4. à How to cite Nationalism in the 19th century, Essay examples
Saturday, December 7, 2019
Two Kinds By Amy Tan Essay Example For Students
Two Kinds By Amy Tan Essay Amy Tans Two Kinds is an autobiographical look into her childhood that shows the conflict between Tan and her mother, the difference between old and new cultures, the past and the present, and parents expectations vs. reality. Couples of opposing elements comprise the basis of the entire story; to another extent even the title itself, Two Kinds, shows the friction that Tan creates. The strongest argument that Tan suggest is that this may not only be a look into her own life, rather it may be the struggles that every child and parent goes through as they come into age. As the story advances, Tans journey of struggle through the relationship with her overbearing mother is unraveled. A sense of emotional growth and mutual respect can be noted between Tan and her mother as the story moves on. A strong examination of Two Kinds defends this theory. Two Kinds takes place in San Francisco during the 1950s when a large immigration movement was taking place. Tan begins the story by taking the role of the innocent child that all readers can relate with. You can see a mental picture of Tans mother poking and repeating the Chinese words Ni-Kan, You Watch! We immediately feel attached and sorry for Tan, being the daughter of an unruly mother. Tan wrote what many of us felt growing up with overbearing parents who expected the world out of us, when we just wanted to go outside and play with the other kids. In a sense we were mentally attached with Tan as she is compared to child actors who she cannot possible compete with. Tan feels as though her mother doesnt take her own opinions and worries to heart, rather she feels her mother is only concerned about Tan becoming famous so that her mother will be better off. These strong emotions that we feel from Tan also spark something inside most readers to immediately jump on the side of Tan rat her than see past these disguised attempts of motivation. Later on in Two Kinds Tans mother comments on her rugged hair, saying that she look like Negro-Chinese. Tans emotions come out as she says to herself as if I did this on purpose. This small line in the story makes a large impact as we can see in our minds a mother dragging her child into the bathroom washing her hair out and yelling at her for something that the child could not control. In a sense, Tan is almost pulling out our sensitive sides, and making the readers shed a tear for the rough life she has grown through. Tan is constantly beating herself up and taking the blame for things that she could not control and one point she looks herself in the mirror and states that it would always be this ordinary face I began to cry. Such a sad, ugly girl! I made high pitched noises like a crazed animal, trying to scratch out the face in the mirror. Tan expresses these emotions, as she is upset with not being as good as her mothe r is expecting. Her mother makes her feel as if she is not as good as she should be, though this strong attack maybe as simple as a failed attempt of Tans mother trying to make her realize that she is not fulfilling her own potential. The most important parts of the story come in regards to the piano lessons that Tan is forced into taking. During the course of the piano lessons Tan and her mother unleash their vented emotions in a strong exchange Why dont you like me the way I am? I cried. Im not a genius! I cant play the piano. Mother slapped me. Who ask you to be genius? she shouted. Only ask you be your best. For you sake. You think I want you to be genius? Hnnh! What for! Who ask you! So ungrateful, This strong exchange is large basis for argument of the misinterpreted attempts of each character. Tan herself is only trying to be do her best as her mother wants, even though her mother thinks that she is not trying as much as she really can. The next large change in emotions is wh en Tan decides not to care as much because she understands that if her teacher doesnt notice slight errors in her playing then her own mother will not notice these errors either. By behaving this way Tan sees that her mother is not even aware of her shoddy piano playing, so Tans mother begins to brag to her friends of her daughters apparent remarkable playing skills. If we ask Jing-mei wash dish, she hear nothing but music. Its like you cant stop this natural talent.Tan becomes extremely upset with this boasting by her own mother, and vows to put an end to this foolish pride. And the next available attempt to end the pride is at the piano recital that her mother enters Tan into. Tan prepared very little for this recital and practiced poorly. Though, right before Tans turn to play she felt a little excited and it seemed as if she wanted to play well. When my turn came, I was very confident. I remember my childish excitement. It was as if I knew, without a doubt, that the prodigy sid e of me really did exist. I had no fear whatsoever, no nervousness. I remember thinking, This is it! This is it!It was as if she always wanted to play piano and it was only when she was appreciated by her parents and those around her that she would talent would flourish. Though, her lack of practice caught up with her and she ended up playing miserably, and her youthful joy soon turned into sorrow as she realized how poorly she was playing and that other than Old Chong everyone else was in amazement of how mediocre her piano playing skills really were. .u271cbbc9ee0716759426473239a38204 , .u271cbbc9ee0716759426473239a38204 .postImageUrl , .u271cbbc9ee0716759426473239a38204 .centered-text-area { min-height: 80px; position: relative; } .u271cbbc9ee0716759426473239a38204 , .u271cbbc9ee0716759426473239a38204:hover , .u271cbbc9ee0716759426473239a38204:visited , .u271cbbc9ee0716759426473239a38204:active { border:0!important; } .u271cbbc9ee0716759426473239a38204 .clearfix:after { content: ""; display: table; clear: both; } .u271cbbc9ee0716759426473239a38204 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u271cbbc9ee0716759426473239a38204:active , .u271cbbc9ee0716759426473239a38204:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u271cbbc9ee0716759426473239a38204 .centered-text-area { width: 100%; position: relative ; } .u271cbbc9ee0716759426473239a38204 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u271cbbc9ee0716759426473239a38204 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u271cbbc9ee0716759426473239a38204 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u271cbbc9ee0716759426473239a38204:hover .ctaButton { background-color: #34495E!important; } .u271cbbc9ee0716759426473239a38204 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u271cbbc9ee0716759426473239a38204 .u271cbbc9ee0716759426473239a38204-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u271cbbc9ee0716759426473239a38204:after { content: ""; display: block; clear: both; } READ: Comparing ââ¬Å"The Lotteryâ⬠and ââ¬Å"The Hunger Artistâ⬠Sample EssaySoon after this she would let down her mother and herself, by doing poorly in school and not fulfilling her potential. It was as if for all these years she was trying to get back at her mother by not performing well, and showing her that she was not the prodigy that her mother always wanted, something that we all subconsciously, at one point or another, have done. The apparent ability suicide that she was performing was only a way to lash out at her mother for forcing her to do all these things over the years that she never wanted to do. It is here that the reader notices that the forceful motivation that her mother performed was only a desperate attempt to save Tan from committing the same mistakes that her mother probably did before she came to America. Though, Tan never realizes this until the very end of the story when she is all grown up and her mother buys her a piano. The passing of this piano is a symbolic point in the book when Tan realizes that her mother only tried to help her all of these years. And closure is placed upon the tumultuous relationship between Tan and her mother while she plays the song Perfectly Contented.The emotions and change in behaviors that Tan embraces are the growing pains of a child lost in her own adolescence. We see Tans relationship with her mother fall during her pubescent years, when most of our relationships with our parents fall. The relationship that Tan tries to make with the reader is almost a recommendation on how the readers should take their own parents advice into consultation while growing up. Despite the harsh form o f motivation that her mother practiced, she only wanted the best for her daughter.
Friday, November 29, 2019
The Life of St. Carlotta
Carlotta was born in ca. 680 A. D. in a small Italian city. Even though at the dawn of the ear known as The Middle Ages, women could have very little effect on the social, political and religious issues in society, St. Carlotta managed to make her contribution to religion and shape peopleââ¬â¢s ideas of what a true Christian should be. With the help of St. Carlotta, the Catholic Church could face the numerous challenges that appeared at the time.Advertising We will write a custom essay sample on The Life of St. Carlotta specifically for you for only $16.05 $11/page Learn More Born to a family of a carpenter and a housewife, Carlotta was always considered a very pious child. When Carlotta was six, she had a vision of St. Mary. According to the existing records, she did not know at first what woman talked to her in her dream; but, after going to church and seeing the image of St. Mary, she told her mother that this was the woman from her dream. It is wo rth mentioning that St. Carlotta is often mentioned as a martyr. When she was fifteen, two stigmata opened on the palms of her hands; she had been bearing the stigmata since then till the day when she died. In addition, St. Carlotta also contributed to building a nunnery in the town where she was born. Helping raise the funds to create the nunnery and giving all that she could give, St. Carlotta succeeded in building a rather humble yet charitable nunnery, which is nowadays known as the Nunnery of St. Carlotta. It is hard to overestimate St. Carlottaââ¬â¢s contribution to charity. She always tried to provide the poor and those in need with everything that she could offer. According to what the chronicles of the V Century say, she once saw a woman in ragged clothes and with no shoes on her way to the church. St. Carlotta took her shoes off, gave it to the woman and proceeded to the church barefoot. However, charity is not the only thing to remember about St. Carlotta. Legends say that people witnessed her doing miracles. As one of the legends says, one of the neighborhood boys was at the deathââ¬â¢s store because of the disease the symptoms of which can be interpreted nowadays as acute pneumonia. After hearing about the child and his disease, St. Carlotta came to the house of the boyââ¬â¢s parents to save the child. She stood for a while in front of the boy who was lying in bed and then said, ââ¬Å"In three days, you will be cured.â⬠Three days after, the parents realized that the boy was perfectly healthy.Advertising Looking for essay on religion theology? Let's see if we can help you! Get your first paper with 15% OFF Learn More St. Carlotta was also aware of Evil and never lost the chance to remind people that they should beware the threats and withstand the temptations that the world had to offer. She disapproved of those who deceitfully used the passions of others for their own benefit and spread lies about the others. Known f or her purity, she yet never offered her own behavior as a model, believing that she was a mere sinner. St. Carlotta died ca. 730 A. D. A woman who definitely left an impact in the lives of the Medieval Italian people, St. Carlotta will remain the symbol of purity and the guardian of the people who seek help and need advice. St. Carlottaââ¬â¢s impact on the Medieval Catholic Church, as well as on peopleââ¬â¢s perception of religion, cannot be denied. Even though the destiny that the Providence meted out for St. Carlotta had a lot of challenges, choice moments and pain, she managed to face the latter decently and will remain one of the most influential female saints of all. This essay on The Life of St. Carlotta was written and submitted by user Maddox K. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.
Monday, November 25, 2019
10 Top Paying Part Time Jobs In Respective Fields -TheJobNetwork
10 Top Paying Part Time Jobs In Respective Fields -TheJobNetwork Think part-time jobs are all for waitresses and bartenders and the nice people who fold your clothes in retail stores? Think again. Some are highly specialized and very well-respected in their respective fields. Here are 10à top paying part time jobsà that donââ¬â¢t require full-time hours. TranslatorA qualified translator can make about $50 per hour. All you need is a fluency with a particular language and a good grip on grammar, style, and syntax. If you prefer the security of working through a third-party staffing service, youââ¬â¢ll probably make less, maybe $20 an hour, but can easily work on your own time.Personal TrainerThis is another example of a job with $50 an hour potential. If youââ¬â¢re into fitness and have some skills and knowledge to offer those who arenââ¬â¢t, consider taking on a few clients. You can specialize in particular sports, Pilates, yoga, skiing, boxing, or just general fitness.ShrinkOkay so you need at least a masterââ¬â¢s degree, but y ou can really tailor your schedule and your life however you see fit. Work with children, couples, or twentysomethings. Be a life coach or a therapist or a social worker. And rake in anywhere from $45 to $150 an hour.Nonprofit ExecutiveYou have to know something about nonprofits, plus whatever cause youââ¬â¢re working for. But these jobs are typically not full-time and, for a talented candidate with experience, can earn up to $50 an hour.Freelance WriterEspecially if you cover any particularly specific market- tech or niche subjects- you might just be able to eke out a career. The average hourly rate for freelance gigs is $33 an hour, but can go as high as $75.Occupational TherapistFor between $30 and $50 an hour, you can help get someone back on their feet after surgery or injury- in either a hospital or private setting- for however many hours each week you like.Adjunct ProfessorEven without making the trek to a campus to teach a course or two per semester, you can make up to $7 0 per hour. This is particularly appealing now that there is such an increase in online course availability- and demand for instructors.Speech PathologistTop people in this field make as much as $60 per hour helping people with vocal disorders, and setting their own schedules.MasseurWork in any setting you prefer- whether at a fancy spa or making house calls with your portable table. Make your own hours (and aromatherapy blends), and rake in up to $60 an hour.Software DeveloperFor $30 to $60 per hour, you can develop applications, engineer software, etc. And you can work in your pajamas.à Theseà top paying part time jobs are only a few there are many more out there. Good luck!
Friday, November 22, 2019
Mergers & Acquisitions Essay Example | Topics and Well Written Essays - 2000 words
Mergers & Acquisitions - Essay Example A merger takes place when the firms involved in the combination are of unequal size. The larger or stronger firm continues to exist because of its stronger bargaining power and the smaller or weaker firms go out of existence. Four periods of economic history have witnessed very high levels of merger activity, which are called a merger waves. These periods are characterized by cyclical activity i.e. large number of mergers followed by relatively fewer mergers ((ICMR), 2003). The current period is called as the fifth wave. In the first three waves, merger activity was concentrated in the United States of America. The fourth and the fifth waves were global in nature though the impact of the wave is most pronounced in the United States of America. First Wave The first merger wave occurred after the depression of 1883. It peaked between 1898 and1902 though it began in 1897 and ended in 1904. The merger had the greatest impact on eight specific industries i.e. primary metals, bituminous coal, food products, chemicals, machinery, transportation equipment, petroleum and fabricated metal products. These industries accounted for almost two ââ¬â thirds of the total mergers during these periods.The mergers in the first wave were predominantly horizontal combinations. These resulting industrial consolidations led to creation of large monopolies. For example, US steel founded by J P Morgan merged with Carnegie Steel founded by Andrew Carnegie.The merged firm US Steel also acquired several other smaller steel producers and the resulting giant capture 75% of the steel market of the United States of America. ... Second Wave The second merger wave occurred between 1916 and 1929. George Stigler, a winner of the Nobel Prize in Economics, has contrasted the first wave as "merging for monopoly" and the second wave as "merging for oligopoly." The consolidation pattern resulted in the emergence of oligopolistic industrial structures. The second wave was primarily fuelled by the post World War I boom in America Economy and a buoyant capital market. The second merger wave lasted until the Great Depression. The wave ended with the stock market crash on the "Black Thursday" i.e. October 29th of the year 1929, when the stock market witnessed one of the steepest stock price falls in history. Some of the corporate giants like General Motors, International Business Machines (IBM), Union Carbide, and John Deere etc., are a product of this era. Third Wave The third merger wave occurred during 1965 to 1969. This wave featured a historically high level of merger activity. One of the reasons for this factor is that this wave occurred in the background of a booming American Economy. One of the new trends started by this wave was the acquisition of larger companies by smaller companies. In the waves prior to this, the acquirer was always bigger in size than the target. A large proportion of transactions that took place during this wave were conglomerate transactions. The conglomerates formed during this period were highly diversified and simultaneously operated in several unrelated industries. For example, during the sixties ITT acquired such diversified businesses like car rental firms, bakeries, consumer credit agencies, luxury hotels, airport parking firms,
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